2018-7-3 22:09 |
Litecoin’s (LTC) close this week will likely set the tone for the next major move in prices, the technical charts indicate.
On the other hand, if LTC finds acceptance below $72.58, then more investors will likely liquidate their holding (long positions), yielding another round of sell-off.
So, a weekly close below $72.58 (last week’s doji candle low) would signal a continuation of the sell-off from the April high of $183.00.
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A weekly close (Sunday, as per UTC)) above $84.24 would confirm a bull doji reversal and open up upside towards the 50-week MA, currently located at $124.70.
A close below $72.58, however, would shift risk in favor of a drop to $50 (psychological support).
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